Buffett tried to persuade Bill Gates to spend $370M on an engagement ring

Huh? That seems uncharacteristically flashy for Buffett.

> Buffett met them at the airport and escorted them to Borsheims, a jewellery business he bought four years earlier.

Ah, now it all makes sense.

I’m not sure what kind of ring would warrant a $370M price tag. The biggest diamond someone would reasonably put on their finger is probably like 20ct, and even that would only be in the low-mid 7 figures.

And suppose there was such a ring, a fictional 15ct vivid pink diamond...why would it be at a Borsheims in Omaha?

Edit: Beyoncé’s engagement ring is reportedly 18ct and cost $6M.

It wasn’t a single ring. The title is misleading (if you can’t trust Business Insider for honesty and clarity who can you trust?). He was joking based on what he did in the past as a percent of net worth and that Gates should spend similarly.

> Buffett told Gates that he spent 6% of his net wealth on an engagement ring in 1951, and Gates should do the same. Gates was worth around $6.2 billion.

Almost certainly tongue in cheek